UK prime minister Andy Burnham’s commitment to adjusting the triple lock in 2030 has been welcomed by the profession, but his plans to use this to fund free social care have been questioned.
At the Labour conference in Liverpool yesterday (29 September) he proposed the state pension would continue to rise by inflation or by at least 2.5% from 2030. "We promised in our manifesto to keep the triple lock unchanged throughout this Parliament. I will honour that promise," the prime minister set out. "From there, in April 2030, we will adjust it." Retaining the inflation link is a "comforting" sign for current and future pensioners, The Private Office head of financial planning Jane Reade said. Reade added: "If giving up the earnings link provides savings which can be direct...
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